A highly rare Hermes handbag could be about to set a new world record in Beverly Hills.

The upcoming Luxury Accessories sale at Heritage Auctions will offer 480 handbags from the industry's most prestigious designers such as Hermes, Chanel and Louis Vuitton.

But one bag in particular could be about to make the headlines.

The Hermes birkin is made from crocodile skin

The bag in question is a Herms Extraordinary Collection 30cm diamond, matte himalayan nilo crocodile Birkin bag with 18K white gold hardware, described by experts as "the most rare, spectacular, and jaw-dropping bag to ever be made".

"This bag is so rare and sought-after that there's a very good chance it could meet or exceed the world record price we saw three years ago," said Kathleen Guzman, a Managing Director at Heritage Auctions.

"This is the only time that a bag of this caliber has appeared on the luxury re-sale market. This is a dream piece for the collection of true Hermes aficionados."

The condition and rarity of the bag means it comes with an estimate of $150,000+, but many believe it could easily surpass the world record price for a handbag - set by a red diamond crocodile Birkin bag which sold at Heritage in 2011 for $203,150.

Further highlights of the sale include a rare Louis Vuitton Black Epi leather sac fusion by Fabrizio Plessi, which features an LED screen showing flowing molten gold.

The bag was designed for the grand opening of the Louis Vuitton store in Hong Kong in 2008, in a limited edition of just 88 examples (regarded in China as an incredibly lucky number), and is expected to sell for $8,000-$12,000.

The sale takes place on September 23.

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